Monthly Archives :

February 2010

ASHBURTON AND FIRST LITHIUM RESOURCES FORM OPTION AGREEMENT AT TEELS MARSH, NEVADA

ASHBURTON AND FIRST LITHIUM RESOURCES FORM OPTION AGREEMENT AT TEELS MARSH, NEVADA 150 150 Progressive Planet Inc.



February 25, 2010,
VANCOUVER, B.C.




–
ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or the
“Company”)


is pleased to announce
it has entered into an Option Agreement to allow
First
Lithium Resources Inc. (MCI-TSX:V)


to earn
an 80% interest in the Teels lithium prospect, located approximately 87
kilometers (54 miles) northwest of the Clayton Valley lithium brine operation
in southern Nevada. The prospect comprises 120 placer claims (2,400 acres – 3.7
square miles) that cover approximately the western two-thirds of the Teels
Marsh, a closed desert basin that was confirmed as having anomalously high Li
spring waters in a reconnaissance water sampling program by the Company in 2009
(see Ashburton NR, January 11, 2010).

In order to maintain the Option in good
standing and to earn an 80% interest in the Property, First Lithium Resources
shall make cash payments, issue common shares to the Optionor and incur
Exploration Expenditures by the following deadlines:



a. 



pay
$40,000 and issue 250,000 common shares in the capital of the Company
(“common shares”) within three business days of the Company
receiving Exchange approval of the transactions contemplated by this Agreement;



b. 



pay
$50,000 and issue 500,000 common shares by the first anniversary of the date on
which the Optionor gains legal and beneficial title to the Property (the
“Registration Date”);



c. 



pay
$85,000 and issue 500,000 common shares by the second anniversary of the
Registration Date; and



d. 



incur Exploration
Expenditures of an aggregate of $450,000 on the Property as follows:



i. 



$100,000 by the
first anniversary of the Registration Date;



ii. 



$150,000 by the
second anniversary of the Registration Date; and



iii. 



$200,000 by the
third anniversary of the Registration Date

.


President
and CEO Michael England states: “We are pleased to bring First Lithium
into this project

. With a
company focused on lithium resource development interested in the Teels
prospect, we are confident that Teels will move forward in a positive
manner.”

 

Ashburton Ventures is a
junior exploration company actively seeking mineral and energy opportunities
for the benefit of its shareholders. For more information please visit the
Company’s website located at www.ashburtonventures.com.

ON BEHALF OF THE BOARD

 

Michael England, President

 


For
further information contact:

Telephone:
(604) 683-3995

 



Forward-Looking Statement:



Some of the statements in this news release contain forward-looking
information that involves inherent risk and uncertainty affecting the business
of Ashburton Ventures, Inc.  Actual results may differ materially from
those currently anticipated in such statements. Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.


ASHBURTON COMMENCES DRILLING AT RED LAKE

ASHBURTON COMMENCES DRILLING AT RED LAKE 150 150 Progressive Planet Inc.


ASHBURTON COMMENCES DRILLING AT RED LAKE



February 23,
2010, VANCOUVER, B.C.




– ASHBURTON VENTURES INC.
(ABR-TSX:V) (“Ashburton” or the “Company”)


announces
that a 1,000 meter drill program has commenced on its Chukuni Property situated
in the Red Lake Gold Camp, Ontario. Ashburton has an option agreement with
Solitaire Minerals to acquire a 60-per-cent interest in the Chukuni property.






The
2009 summer exploration program on the Chukuni property involved an Induced
Polarization (IP) survey with follow up field work and sampling of the accessible
IP anomalies.  Due to the lack of outcrop, Mobile Metal Ion (MMI) soil surveys
were carried out over five of the six best IP anomalies.  The priority target
will be the northern contact of the Howey Bay Intrusive where a strong IP
response that is typical for gold mineralization was obtained.

The
Chukuni property lies within the southern corridor of the Cochenour- Gullrock
deformation zone and is of particular interest within the Red Lake Mining
District as this zone hosts the well known Red Lake-Campbell Mine Complex.

Mr.
Andrew Tims, P.Geo. will be operating as the Company’s qualified person under
National Instrument 43-101. Mr. Tims has reviewed the technical content of this
news release and confirms its accuracy, and is independent of the Company.

Ashburton Ventures is a junior exploration company
actively seeking mineral and energy opportunities for the benefit of all its
stakeholders. For more information please visit the Company’s website
located at
www.ashburtonventures.com
.

ON BEHALF OF THE BOARD

Michael
England, President


For further
information contact:

Telephone: (604)
683-3995







Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information
that involves inherent risk and uncertainty affecting the business of Ashburton
Ventures Inc. Actual results may differ materially from those currently
anticipated in such statements. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.


ASHBURTON ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

ASHBURTON ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT 150 150 Progressive Planet Inc.





ASHBURTON ANNOUNCES CLOSING OF FIRST
TRANCHE OF PRIVATE PLACEMENT


February 17, 2010, VANCOUVER, B.C.


– ASHBURTON VENTURES INC.
(“Ashburton” or the “Company”)


(ABR-TSX:V) is pleased
to announce the closing of the first tranche of its
private placement (the “Private Placement”) announced in a news
release dated January 25, 2010. Pursuant to the Private Placement, the Company issued

2,040,000 units (the

“Units”)
at a price of $0.09 per Unit for gross proceeds of $183,600.  Each Unit is comprised of one common share (a
“Share”) of the Company and one common share purchase warrant (a
“Warrant”). Each Warrant will entitle the holder to purchase one
Share of the Company for a period of 18 months from the date of issuance at a
price of $0.12 per Share.

 

Finders fees
consisting of 150,000 broker warrants (the “Broker Warrants”) and $13,500
in cash were paid in accordance with the policies of the TSX Venture Exchange.
Each Broker Warrant will

entitle the holder to purchase one Share of the Company for a period of 18
months from the date of issuance at a price of $0.12 per Share.


All securities issued pursuant to
the private placement are subject to a hold period expiring on June 9,
2010.

Ashburton
Ventures Inc. is a recently listed junior exploration company whose mission is
to acquire highly prospective base and precious metal properties for the
benefit of its stakeholders. The Company’s website can be viewed at www.ashburtonventures.com.


 

ON BEHALF OF THE BOARD

 




                                                           


Michael England, President

 

FOR FURTHER
INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995

Toll Free: 1-888-945-4770


 



Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.













ASHBURTON REPORTS PROGRESS ON NEVADA AND RED LAKE GOLD PROJECTS

ASHBURTON REPORTS PROGRESS ON NEVADA AND RED LAKE GOLD PROJECTS 150 150 Progressive Planet Inc.





ASHBURTON REPORTS PROGRESS
ON NEVADA AND RED LAKE
GOLD PROJECTS



February 04, 2010,
VANCOUVER, B.C.




– ASHBURTON VENTURES INC. (ABR-TSX:V) (“Ashburton” or
the “Company”)


is
providing an update for two of its gold exploration projects.




Deep
Creek Gold Project, Nevada


The company has completed its first
phase of geologic mapping and geochemical sampling at the Deep Creek property in
northern Nevada.
The Deep Creek claims are located approximately 112 kilometers north of Elko, Nevada, and 56
kilometers northeast of the Newmont-owned Midas mine, in the Independence segment of the prolific Carlin
gold trend. This first phase of the program included soil and rock sampling
along a range-front structure in Paleozoic rocks where highly silicified
breccias and sinters occur. During the exercise, reconnaissance panning of a
small stream that cuts through sediments east of the fault recovered
visible gold, confirming historical reports of visible gold on the property.
The program is nearly complete, and results for the geochemical sampling is
expected in the next few weeks. The drill permitting process is also underway with
drilling anticipated in the upcoming months.



Chukuni Gold Project, Red Lake, Ontario


The Chukuni property lies within the southern corridor of the Cochenour-Gullrock
deformation zone and is approximately 3.5 km south of Goldcorp’s Red
Lake-Campbell Mine Complex.  Logistics
have required that the company fly in a helicopter-supported portable drill rig
in to the Chukuni Project, resulting in a slight setback in commencement of
drilling.


Tom
E. McCandless, Ph.D, P.Geo, a director of Ashburton and Qualified Person as
defined by N.I. 43-101, has approved the information in this press release. Neither
property has been the subject of a National Instrument 43-101 report and Dr.
McCandless has not verified the technical data disclosed in this release.


Ashburton Ventures is a junior exploration company
actively seeking mineral and energy opportunities for the benefit of all its
stakeholders. For more information please visit the Company’s website located
at www.ashburtonventures.com.


ON BEHALF OF THE
BOARD

Michael England,
President


For
further information contact:

Telephone: (604) 683-3995












Forward-Looking
Statement:
Some of the statements in this news release contain forward-looking information
that involves inherent risk and uncertainty affecting the business of Ashburton
Venturess Inc. Actual results may differ materially from those currently
anticipated in such statements. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.






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